The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $1,149,826.00 and an estimated property value/price of $1,642,609.00. The property is located in NY and is within Nassau County. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 6.625% initial interest rate, the APR for this loan type is 7.089% subject to increase.

Based on current market conditions, the payment schedule would be:

  • 120 monthly payments of $7,362.46 at an interest rate of 6.625%
  • 239 monthly payments of $8,102.93 at an interest rate of 7.875%
  • 1 monthly payment of $8,105.78 at an interest rate of 7.875%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.